Bentley Systems: Valuation Continues To Be Cheap While Fundamentals Improve

Core Viewpoint - The article discusses the investment potential of Bentley Systems (NASDAQ: BSY), highlighting a buy rating based on its valuation becoming attractive and the expectation of growth acceleration in the future [1]. Group 1: Investment Philosophy - The investment approach is fundamentally based, focusing on long-term durability and affordability rather than merely low multiples [1]. - The article emphasizes the importance of a robust balance sheet and steady long-term growth without cyclicality as key factors in selecting investment opportunities [1]. - It acknowledges the risks associated with investing in successful companies, particularly the potential of overpaying for stocks, underscoring the significance of valuation [1]. Group 2: Market Outlook - There is a belief that in certain situations, the potential for growth can outweigh immediate price concerns, suggesting a favorable outlook for companies with significant development runways [1].